> For the complete documentation index, see [llms.txt](https://document.sunprotocol.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://document.sunprotocol.io/en/smart-contracts/tokenfee-contract.md).

# Tokenfee Contract

Token Fee receives SUN fees, swaps SUN through the SUN/USDT pool, and immediately distributes all resulting USDT according to its fee configuration. Normal users mainly inspect balances, quotes, slippage, and recipients; `sell()` is restricted to authorized executors.

### Token and trading configuration

| Function             | Purpose                                      |
| -------------------- | -------------------------------------------- |
| `sun()` / `usdt()`   | SUN and USDT token addresses                 |
| `pair()`             | SUN/USDT liquidity pair                      |
| `router()`           | Swap router                                  |
| `MAX_SELL_USDT()`    | Maximum target USDT value sold per execution |
| `sellSlippageBips()` | Current sell slippage protection             |
| `executors(account)` | Whether an address can call `sell()`         |
| `owner()` / `dao()`  | Owner and DAO addresses                      |

The published `MAX_SELL_USDT` is `3000 ether`. It is an on-chain smallest-unit value and should be formatted with the token returned by `usdt()`.

### Conversion reads

| Function                      | Result                                                                            |
| ----------------------------- | --------------------------------------------------------------------------------- |
| `quoteSunToUSDT(sunAmount)`   | SUN value from the current reserve ratio                                          |
| `quoteUSDTToSUN(usdtAmount)`  | SUN amount from the current reserve ratio                                         |
| `minUSDTOutForSUN(sunAmount)` | Minimum output after AMM price impact, the 0.3% pool fee, and configured slippage |

The first two quote functions use a simple reserve ratio and are useful for value and cap decisions; they are not an exact execution quote. Use `minUSDTOutForSUN` to inspect transaction protection.

### Fee distribution

`getFeeConfig()` returns aligned `recipients` and `bips` arrays. Allocation uses `DENOMINATOR() = 10,000`, so `2500` means 25%. Individual entries are available through `feeRecipients(index)` and `feeBips(index)`.

Two similarly named values use different scales:

* `feeBips` uses a denominator of `10,000`;
* `sellSlippageBips` uses `SLIPPAGE_DENOMINATOR() = 1,000,000`.

Therefore a slippage value of `30,000` means 3%, not 300%.

### How `sell()` operates

The executor-only `sell()` call:

1. Reads the contract's SUN balance.
2. Caps the SUN input when its estimated value exceeds `MAX_SELL_USDT`.
3. Swaps with the minimum output returned by `minUSDTOutForSUN`.
4. Distributes the contract's full USDT balance according to the fee configuration.


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